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Beartrap

BTC Possible Bear Traps?!Here's another look at BTC's current situation, I alluded to bear traps in my last double bottom update. Here, I zoom in on the 30min chart to show exactly what I'm referring to. This short uptrend bounce has been very hard fought. It's almost been painful to watch. The last two bull flags didn't break out until about 79% of their own retracement. Now, I think the market can go any direction at any time, but given the slow progress of this rally, it seems odd that in the moment of most despair, a moment in which it appeared these bull flags were failing to form and breaking out back down. It seems odd it was in those moments both times that everyone chose to rally and buy when most indicators would tell you it was dropping and you had the opportunity to buy lower very soon. I'm not much for conspiracy theories. But I'm not blind to the possibility of market manipulation either. Here we are again, we have the chance to observe and see what happens. It would be one hell of a bear trap to bounce off the 79% retracement again. In this case it also happens to fall on a potential physiological support zone being at an even 8k. Everyone is now calling for a double bottom, and I agree it could shake down like that. But, There's also the chance it bounces here and has the momentum to make it through the combined resistance of the 79% retrace and mid-line of the downward trend. Either way, it's going to be a fun ride! Thanks for reading, let me know what you think! Also, not that anyone was thinking about it; but I don't recommend using any of this advise for trading... All of my analyses are formed using my own set of highly technical and complex algorithms that I like to refer to as.. pure speculative imagination! They've done some studies, and 60% of the time.. I'm wrong every time... Sly2.0
BITFINEX:BTCUSD
by sly2
5
Silver huge bull setupbroke down from the trend that most would draw and assume a retracement or even bear however, even with a lower break out of the fib channel it will still be within a setup for a megaphone bull break out. Elliott wave analysis of the megaphone happened to be aligned with a 50% retracement of the December run at the end of wave 4 though this wave passes through the 38.2% at the bottom of the fibs channel meaning it might get stopped out short of the full 50% retrace. The end of Wave 5 indicates a decisive moment for longer bull or bear move however, the bull megaphone pattern combined with the longer timescale wave 5 of the channel/pennant also ending within margin of error at the breakout point does lean towards a further break of the much longer timescale pennant putting targets way up to $2500.
TVC:SILVERLong
by UKMidas
1
!Cautious approach to SILVER! Easy break through zone for silver where cloud made a thin area to break, Caution though, simple breaks like these do not provide strong data on whether to continue long or short. CTF bouncing on lowest level and testing its strength against trend lines be ready for anything. --------------------------------------------- CTF - SILVER -No Trade action until SILVER can get itself together again. Will re-analysis next Monday. --------------------------------------------- Trade Safe everyone!
TVC:SILVER
by DMC
GBPUSD - updateAfter predicting a move higher over the weekend but not listening to my instinct at this crucial moment yesterday, when I reversed my position from long to short, I will be sitting on my hands until I can determine what the smart money intends to do with the longer term. We saw a nasty bear trap on the TL bounce as indicated on the chart, and with the lack of follow through and reversal candle present, I knew there was trouble but DID NOTHING ABOUT IT. As a result I gave the market a solid 157.6 pips yesterday, seeing me stopped out by a mere 12 pips before (you guessed it), ANOTHER REVERSAL. Livid haha. Today is a new day, and a new trading idea - good luck and god speed.
by JakeSummers4x